VC Fund Investments
Payment checkout solutions player Nimbbl raises $3.5 M from Groww, Sequoia, others
Mumbai-headquartered payment checkout solutions startup Nimbbl has closed a combined seed and a pre-Series A funding round of USD 3.5 million from financial service platform Groww, Sequoia Capital India, and Global Founders Capital (GFC). Palo Alto-based angel collective Amara VC, along with angel investors like Kunal Shah (CRED), Amrish Rau (Pine Labs), Jitendra Gupta (Jupiter), Prajit Nanu (Nium), and former senior Mswipe executive Srinivas Rao, also participated in the round. Founded in 2020 by former Citrus Pay and PayU executives Amit Bansal and Anurag Pandey, Nimbbl provides a one-click checkout solution on multiple payment methods, including UPI apps, Buy Now Pay Later (BNPL), netbanking, wallets, and EMI to merchants. It has teams across Mumbai, New Delhi, and Bengaluru. Nimbbl plans to use the latest funding to strengthen its proposition of facilitating commerce through growing its product and go-to-market capabilities. It aims to touch 20,000 merchants and process over INR 10,000 crore transactions in FY24. Since its product launch in September 2021, the startup claims to have onboarded over 4,000 online merchants in sectors like direct-to-consumer (D2C), airlines, and utilities as clients and processed payments worth over INR 2,000 crore in FY22.
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